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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Odyssean Investment Trust Plc | LSE:OIT | London | Ordinary Share | GB00BFFK7H57 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 162.00 | 162.00 | 163.50 | 163.00 | 161.50 | 162.00 | 85,531 | 16:26:06 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | -1.58M | -4.09M | -0.0349 | -46.42 | 189.88M |
TIDMOIT
RNS Number : 5574W
Odyssean Investment Trust PLC
23 December 2021
LEI: 213800RWVAQJKXYHSZ74
23 December 2021
ODYSSEAN INVESTMENT TRUST PLC
Proposal to Strategic Equity Capital plc
The Board of Odyssean Investment Trust plc ("OIT") announces that it has made a proposal to the Board of Strategic Equity Capital plc ("SEC") regarding a combination of SEC and OIT to be effected by way of a section 110 scheme of reconstruction by SEC and a transfer of assets to OIT (the "Transaction"). The combined entity would be managed by Odyssean Capital LLP under the existing OIT investment strategy.
OIT has received letters of intent supporting the Transaction from SEC shareholders representing 32.9 per cent. of the issued share capital of SEC.
The Board believes the combination of OIT and SEC presents a unique opportunity to create a leading investment trust differentiated from the wider UK small cap sector. The combined entity would have a long-term supportive shareholder base, strong shareholder liquidity and discount control mechanisms, a premium rating and greater scale, and this would be of long-term benefit for both sets of shareholders.
The discussions between OIT and SEC are at an early stage and accordingly there can be no certainty that terms of the Transaction can be agreed. A further announcement will be made in due course.
This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.
For further information, please contact:
Odyssean Investment Trust plc via Lansons Jane Tufnell (Chair) Winterflood Securities Limited +44 (0)20 3100 0000 Neil Langford neil.langford@winterflood.com Hande Derinkok hande.derinkok@winterflood.com Frostrow Capital LLP (Company Secretary) Kerstin Rucht +44 (0)20 3709 8732 Lansons +44 (0)7825 427 514 David Masters davidm@lansons.com
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(END) Dow Jones Newswires
December 23, 2021 02:00 ET (07:00 GMT)
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